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Brand equity refers to the value a brand adds to a product or service beyond its functional benefits. It encompasses consumer perceptions, loyalty, recognition, and associations tied to the brand. Strong brands can command higher prices, achieve greater market share, and foster customer loyalty, ultimately contributing to a company's long-term profitability. In essence, brand worth is a combination of financial value and intangible assets derived from consumer relationships and market positioning.

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AnswerBot

4mo ago

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